Pete Najarian

Pete Najarian
Co-Founder, Najarian Family Office and Najarian Advisors

Pete Najarian, the "Pit Boss," was ranked one of the top 100 traders by Trader Monthly magazine.

Today he is a co-founder ofNajarian Family Office,a private wealth management firm, as well as Najarian Advisors, a companyadvising institutional investors on options strategies.

Together with his brother, Jon"DRJ" Najarian, he is also a founding member of Investitute.com, a financial education and newsletter services company, as well as best-selling author of both "How We Trade Options" and "The 22 Rules of Investing."

Najarian invests in and works with start-ups via Rebellion Partners, where he is a founding member.

Following a football career that included several seasons with the NFL's Tampa Bay Buccaneers and Minnesota Vikings, Najarian took up options trading in 1992 joining his brother, Jon "DRJ" Najarian, at Mercury Trading, a market-making firm at the Chicago Board Options Exchange (CBOE). Two years later, he assumed responsibility for Mercury's risk and arbitrage and later led its entry onto the New York Stock Exchange (NYSE).

He also led Mercury's joint venture with M.J. Meehan, the third-largest specialist firm on the NYSE. From 2000 to 2004, Najarian served as president of Mercury, and helped execute its sale to Citadel, one of the world's largest hedge funds. During this period, Najarian chaired the Exemption Committee of the CBOE for three years and served as a floor official for eight terms.

Najarian has been a founding member of One Chicago, an electronic exchange committed to becoming the global leader in futures on individual stocks, narrow-based indexes, and ETFs. He is also the Co-Founder of Hedgehog stock, options, and futures trading platform and together with brother Jon, co-developed the Heat Seeker™ and complementary programs identifying unusual buying activity in stocks, options, and futures. Najarian is one of the "Fast Money Five" on CNBC's Fast Money, and also contributes to CBOE-TV, the exchange's popular webcast.

In 2005, Najarian co-founded,together with his brother Jon, optionMONSTER, an options news and education firm, and tradeMONSTER, a leading online brokerage firm, that for years has been rated "Best for Options Traders" by Barron's and was the first online broker to deploy streaming, desktop-like trading in a web browser.

Najarian graduated with a BA from the University of Minnesota.

What does Pete Najarian do when he's not investing? Here's a look in our Halftime Report "Trade Off."

Follow Pete Najarian on Twitter @petenajarian.

More

  • Are the technical forces powerful enough to keep the S&P 500 on its current uptrend toward 1,000? Also why isn't Apple CEO Steve Jobs making the keynote address at Macworld?

  • Hartford is seeing heavy options trading Friday, as its stock soars more than 88% even as the broader markets drop. Hartford Financial Services, which has an average daily call volume of 10,000 contracts, saw 37,100 calls trade in the first hour of trading this morning. That's three times full session volume in just 60 minutes!

  • Heavy options action in Starbucks spacer at the start of the month foreshadowed the ultimate earnings miss and decaffeinated forecast out of the coffee chain after the bell yesterday, according to Pete Najarian, FM Trader and co-founder of OptionMonster.com. If you look at the chart, Starbucks shares began to go on a nice run at the end of October amid an interview in the Wall Street Journal where CEO and Founder Howard Schultz told the paper that he believed the company's sales may have hit bottom in September.

  • Traders no longer seem concerned with volatility in the market -- 200 down one day, 200 up the next day. Pete Najarian, appearing on satellite from Chicago, says traders have developed ADHD in response to the bipolar market -- bullish one day, bearish the next.

  • On Wednesday the Fast Money traders were squarely focused on 3 key developments that may signal serious challenges lie ahead for the stocks.

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